Notifications Bell

Positive quarter for Under Armour

Positive quarter for Under Armour

The sports apparel company reported Q4 2021 earnings and sales ahead of analysts' estimates

For the quarter ended December 31, Under Armour revealed an adjusted EPS of 14 cents, double than forecasted. The revenue also came higher than the $1.47 billion consensus, at $1.53 billion. It grew from $1.4 billion a year earlier. Within overall revenue, apparel was up 18%, footwear grew 17%, while accessories lost 27%, after a year earlier, accessories sales spike.

Last year, Under Armour revealed that it was changing its fiscal year-end date from December 31 to March 31. Following a three-month transition period from January 1, 2022, to March 31, Under Armour's next fiscal year will run from April 1 to March 31, 202.

The company forecasted sales to be up a mid-single-digit rate for the transition quarter, while earnings are seen between 2 cents – 3 cents per share. The sales outlook includes approx. ten percentage points of headwinds related to spring and summer order book reductions from ongoing supply chains constraints.

Despite the promising results, the market reacted negatively. At the moment of writing, Under Armour's stock price was trading 2.48% lower.

Sources: cnbc.com, finance.yahoo.com

The information presented herein is prepared by ae.capex.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.